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HEICO CORPORATION REPORTS RECORD NET SALES (UP 39%), OPERATING INCOME (UP 33%) AND NET INCOME (UP 17%) FOR THE SECOND QUARTER OF FISCAL 2024

   

HOLLYWOOD, FL and MIAMI, FL — HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today reported an increase in net income of 17% to a record $123.1 million, or $.88 per diluted share, in the second quarter of fiscal 2024, up from $105.1 million, or $.76 per diluted share, in the second quarter of fiscal 2023.  Net income increased 20% to a record $237.8 million, or $1.70 per diluted share, in the first six months of fiscal 2024, up from $198.1 million, or $1.43 per diluted share, in the first six months of fiscal 2023. 

HEICO SUBSIDIARY ACQUIRES EXCLUSIVE LICENSE AND KEY RELATED ASSETS FOR SELECT HONEYWELL DISPLAY PRODUCT LINES

MIRAMAR, FL and HOLLYWOOD, FL – HEICO Corporation (NYSE: HEI.A and HEI) today announced its Sunshine Avionics subsidiary entered into an exclusive license and acquired key assets from Honeywell International (“Honeywell”) that will provide the capability to support the Boeing 737NG/777 Cockpit Displays and Legacy Displays product lines. The transaction was structured as an exclusive perpetual license and asset purchase. Sunshine Avionics is part of HEICO’s Flight Support Group. Transaction terms and financial details were not disclosed.